Kidder Mathews has brought to market a rare portfolio of two Whole Foods-anchored properties located in Santa Barbara and Malibu, California. The assets are located in two of the most affluent and supply-constrained coastal markets in the state. The portfolio is offered at $145 million with attractive below-market seller financing. Tanel Harunzade and Darrell Levonian are representing the owner of both properties.
In Santa Barbara, the freestanding Whole Foods at 3761 State Street is offered at $57.5 million. The property underwent a full interior remodel in 2022, followed by an exterior renovation in 2023. The store sits adjacent to a planned 680-unit mixed-use housing development underway at the former Macy’s site.
The Park at Cross Creek in Malibu’s Civic Center is a shopping center anchored by a Whole Foods and offered at $87.5 million. Built in 2019, the property is 100% leased to a curated mix of high-profile tenants—including Tesla, Blue Bottle Coffee, and Prince St. Pizza, along with multiple spa and wellness brands. Located at 23401 Civic Center Way, minutes from the Malibu coastline, the center serves as Malibu’s premier open-air retail destination and functions as a vibrant community hub in one of the nation’s wealthiest communities.
“These are generational assets that combine the strength of Whole Foods with premier coastal locations,” said Harunzade, Executive Vice President at Kidder Mathews. “Santa Barbara’s only Whole Foods and Malibu’s flagship store each draw from exceptional demographics, and both properties benefit from significant barriers to entry.”
“This portfolio combines stable, long-term income with durable upside due to limited entry alternatives in these markets,” said Levonian, Executive Vice President and Managing Director at Kidder Mathews. “For investors looking to secure rare California coastal real estate with close to eight acres of land combined, these properties represent a compelling opportunity.”
For more information, contact:
- Tanel Harunzade, Executive Vice President
310.996.2217 | tanel.harunzade@kidder.com - Darrell Levonian, Executive Vice President, Managing Director
310.996.2200 | darrell.levonian@kidder.com
About Kidder Mathews
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 19 offices across Washington, Oregon, California, Nevada, and Arizona. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages $9 billion in transaction volume, manages more than 53 million square feet of space, and conducts 2,400 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.
